The boss of one of the largest banks in the united KINGDOM has been named in Parliament as being responsible for RBS scandal has hit the Global Restructuring Group (GRG).
Nathan Bostock, who is now the head of Santander UK, was appointed by the Liberal-Democrat party leader Sir Vince Cable.
Mr. Bostock has been one of the leaders of GRG when she is engaged in an intentional strategy that has resulted in the mistreatment of business customers, Mr. Vince said.
Santander declined to comment.
Mr. Bostock’s name is entered in a wide-ranging debate in which Members in all parties have attacked the regulators and senior bankers to not have to provide victims with adequate reparation.
Between 2008 and 2013, the Royal Bank of Scotland put 16,000 business customers in its GRG division, saying a lot, he was there to help turn their fortunes around.
However, an internal investigation for the Conduct of the Authority found in 2016 as the bank had, instead of consistently putting its interests before those of its clients.
After the report was leaked to the BBC, last summer, the FCA’s chief executive officer Andrew Bailey, the Mps have refused requests to publish it in its entirety, rather than opting for a resume that was of key phrases and names.
In a debate in back-bench on GRG Thursday, Sir Vince Cable, has said the full report mentioned an “incriminating phrase”: “the Management knew or should have known that this [was] an intention, a coordinated strategy, the ill-treatment of clients of business because of this, and that the head of the GRG responsible for this policy, Mr. Nathan Bostock, is now chief executive of Santander.”
Mps have attacked GRG for the treatment, which has resulted in customers not only lose their business, but often, their homes, their marriage or their state of health.
Labour MP Clive Lewis said: “The cost of this is immeasurable, but we believe that it is in the tens of billions. So, let’s be clear here. It is the potential size of the injustice that has taken place in our country. If it is this big, it can be the greatest flight anywhere, ever.”Deterrent time”
In an excerpt from the report not published, it published an internal memo of advice for dealing with clients, business language such as: “the Rope. Sometimes, you need to let the clients hang themselves.”
Conservative MP and Treasury of the special committee of the president of Nicky Morgan said the memo “raises the lid of a culture at RBS”.
“When I hear from constituents and others say that they will never trust a bank again, they will never ask a bank again for money, then this should be a terrible moment for all the banks involved in lending and working with Smes.”
The members of the all-party parliamentary group on fair banking to the businesses now want a new system of courts to allow a better access to justice for the owners of small businesses, for suing the bank is impossible or out of the price.